uShares

The Tokenized Representation of Real World Assets

The uShare (Urano Share) is a blockchain-based digital asset designed to provide fractionalized exposure to the economic structure of a tokenized Real World Asset (RWA). Whether linked to artwork, intellectual property, real estate, or other eligible asset categories, uShares enable eligible users to interact with structured opportunities that are traditionally difficult to access.

Each uShare is issued within a legally structured and compliant framework, ensuring transparency, traceability, and a reliable digital representation of the underlying economic configuration associated with the relevant opportunity. This model combines blockchain-based infrastructure with real-world asset structuring, enhancing accessibility in markets that have historically been limited to institutional participation.

Any economic outcome potentially associated with a tokenized opportunity arises exclusively from contractual arrangements with a dedicated special purpose vehicle (SPV) or other legally segregated entity established for that specific opportunity, subject to the applicable terms and conditions. Such outcomes do not derive from the mere holding of uShares.

How uShares Are Structured

A uShare is a factory ERC-20 token that represents a digital unit linked to the economic structure of a tokenized Real World Asset (RWA). Each uShare corresponds to a proportional allocation within the economic model defined for a specific opportunity, enabling transparent and auditable interaction with its lifecycle.

Holding a uShare provides exposure to the economic parameters associated with the relevant opportunity, as defined within its dedicated legal and contractual framework. Changes affecting the underlying asset—such as valuation updates, lifecycle events, or other predefined economic factors—may be reflected in the reference parameters associated with the relevant uShares, in accordance with the applicable structure.

Example If a real estate opportunity is structured with a reference value of $1,000,000 divided into 1,000 uShares, holding 100 uShares corresponds to a proportional reference exposure of 10%. If a subsequent certified assessment updates the reference value to $1,200,000, the associated reference parameters adjust accordingly. Conversely, a decrease in the reference value would be reflected proportionally.

Lifecycle events and relevant economic updates are immutably recorded through on-chain notarization mechanisms, ensuring consistency, traceability, and transparency throughout the lifecycle. Such records are informational in nature and do not constitute guarantees, commitments, or representations of future outcomes.

uShare Lifecycle

The lifecycle of a uShare follows a structured operational flow designed to provide proportional economic exposure to a tokenized Real World Asset, while ensuring transparency through on-chain records.

Acquisition and Participation

Users select a tokenized opportunity made available through the Urano Platform (uApp). After completing the required identity verification (KYC) and accepting the applicable terms and conditions, users may acquire uShares using supported crypto assets via their Web3 wallet.

Before public availability, $URANO stakers receive a 48-hour priority access window to uShare allocations through the uApp.

Upon completion of the transaction, uShares are transferred to the user’s Web3 wallet and displayed within the user profile interface on the uApp.

Amounts received in connection with uShare acquisitions are allocated to the dedicated legal and operational structure established for the relevant opportunity, in accordance with the applicable framework. Such allocation supports the implementation, management, or operation of the underlying asset structure, as applicable.

Example If the tokenized asset is a real estate property, the funds are allocated to the structuring and maintenance of its digital economic model, as well as to operational requirements necessary for managing the underlying asset. If the asset relates to an art initiative, the funds support the acquisition, custody, and administration of the artworks involved.

Maturity and Redemption

Each uShare follows a defined lifecycle that may include a maturity, completion, or settlement event, depending on the structure of the underlying opportunity.

Where such an event is provided for under the applicable framework, eligible users may submit their uShares through the Urano Platform to initiate a technical claim process, in accordance with the relevant terms and conditions. Upon submission, the uShares are permanently burned as a technical measure to prevent duplication or double-claiming.

Where an economic outcome becomes claimable, the corresponding amounts are processed through the platform’s technical infrastructure and, where applicable, made available to eligible users via on-chain settlement in stablecoins.

Any such amounts reflect the finalized economic outcome of the opportunity—which may be positive, neutral, or negative—and are determined exclusively under the applicable legal and operational framework, and not by virtue of the uShares themselves.

Example Where a user has contributed $10,000 in connection with a structured real estate opportunity and the finalized outcome reflects a +20% result, the user can claim $12,000 in stablecoins through the platform’s technical claim process. If the finalized outcome reflects a –10% result, the claimable amount adjusts accordingly (e.g. $9,000).

Market-Driven Economic Adjustments

The reference parameters associated with uShares may be updated over time to reflect changes affecting the underlying Real World Asset, as determined under the applicable framework.

Such updates reflect certified assessments, market conditions, and material developments related to the asset’s operational trajectory, and are made available to users through the relevant uShares section of the uApp, with the aim of maintaining an accurate and transparent representation of the underlying structure.

Certified Assessments & On-Chain Notarization

At predefined intervals, authorized and independent professionals conduct formal appraisals, audits, or certified valuations of the relevant real-world asset, in accordance with applicable professional standards.

The outcomes of these assessments are used to update the reference parameters associated with the tokenized structure. These parameters serve as informational indicators supporting transparency and traceability and do not represent an official price or market valuation determined by the platform.

Following each certified assessment, updated reference parameters are immutably recorded through on-chain notarization, ensuring consistency, auditability, and lifecycle transparency.

These updates are provided for informational purposes only and do not constitute investment advice or a guarantee of future performance or outcomes.

Example Where a digital structure corresponds to 5% of a tokenized artwork initially assessed at $500,000, and a subsequent certified appraisal establishes an updated reference value of $600,000, the associated reference parameters reflect a proportional 20% increase. If a later assessment establishes a lower reference value, the parameters adjust accordingly.

uShare Staking (uStaking)

The uStaking module is a technical distribution mechanism used within the Urano ecosystem to manage recurring cashflow distributions associated with specific tokenized opportunities, where provided for under their applicable structure.

In such cases, uShares are temporarily locked within a dedicated smart contract solely as a technical condition to enable participation in distribution events. The uStaking module does not generate cashflows or influence their amount or timing.

Any amounts distributed through uStaking are processed in stablecoins (e.g. USDC) and are made available only where a distribution event has been formally initiated in accordance with the applicable framework.

There is no guaranteed frequency, amount, or continuity of distributions. Users may unlock their uShares or claim any available amounts at any time, subject to the existence of an active and finalized distribution event and sufficient balances being available.

The uStaking module operates independently from the $URANO staking system and is available only for opportunities whose economic framework expressly provides for recurring distribution events.

Key Considerations – Risks and Exposure

Holding uShares provides economic exposure to a structured tokenized opportunity, as defined under the applicable framework.

This exposure may allow eligible users to access otherwise difficult-to-reach economic structures, while also involving risks that should be carefully considered before participating.

Key characteristics include:

• Access to structured economic participation in selected real-world asset initiatives, subject to eligibility requirements.

• On-chain transparency of lifecycle events and related technical processes.

• Standardized digital interaction with legally structured asset frameworks.

Risks and Considerations

⚠ Market and Economic Risk Changes in the economic parameters of the underlying asset may result in variations in the exposure linked to uShares, which may be positive, neutral, or negative.

⚠ Operational and Structural Risks The underlying asset or opportunity may be affected by operational factors, regulatory developments, market conditions, or external economic events.

⚠ Liquidity Considerations While tokenization may facilitate technical transferability, the availability of secondary transfer mechanisms is not guaranteed and may vary by opportunity and jurisdiction.

Risk Example If a structured commercial real estate opportunity experiences a decline due to adverse market conditions or regulatory developments, the value associated with the corresponding uShares may adjust accordingly. Additional factors, such as reduced demand, increased operating costs, or changes in local regulations, may further affect the overall economic outcome and the user’s exposure.

The Future of Tokenized Interactions with Real World Assets

The uShare model introduces a structured, technology-enabled approach to interacting with Real World Assets through blockchain-based digital representations. By combining legal structuring with transparent on-chain processes, the Urano Ecosystem provides eligible users with a standardized framework to access and monitor structured real-world asset initiatives in a compliant and controlled environment.

Rather than replicating traditional financial instruments, uShares function as a technical interface reflecting predefined economic parameters associated with legally structured opportunities, without embedding ownership, custody, or financial instrument characteristics at the token level.

Through the Urano uApp, users interact with a transparent, efficient, and scalable digital framework that connects real-world asset structures with decentralized infrastructure, supporting the ongoing evolution of compliant tokenized interaction models.